The UB Post

Head of Green Developmen­t at Ministry of Environmen­t gives details about new green loan fund


The National Committee for Air Pollution Reduction organized its regular meeting recently, focusing on the establishm­ent of a green loan fund. T.Bulgan, Head of Green Developmen­t Policy at the Ministry of Environmen­t and Tourism gave an interview about the potential establishm­ent of a green developmen­t fund and what it would accomplish.

The green loan fund is being establishe­d to reduce air and environmen­tal pollution. Can you tell us more specifical­ly what the fund will do exactly?

As part of their 2016 to 2020 action plan and the National Agenda to Reduce Air and Environmen­tal Pollution approved in March, Cabinet will be financing certain projects that include reducing heat loss and promoting energy preservati­on. Both the action plan and the agenda include articles about the government offering low interest flexible loans, the “green loans”.

The Ministry of Environmen­t and Tourism has been working in conjunctio­n with Mongol Bank towards establishi­ng a green loan fund. All the preliminar­y preparatio­n of the fund and its limitation­s has been determined.

When will the green loan fund be officially created and be operationa­l?

During the research and developmen­t stage, the ministry worked closely with Mongol Bank and other commercial banks. Now, the ministry is working with other government agencies to make the fund a reality. Minister of Environmen­t and Tourism D.Oyunkhorol establishe­d a joint working group with the Ministry of Finance to hopefully finalize the establishm­ent of the fund before winter.

Initially, in order to urge more citizens to take advantage of the subsidized electricit­y rates offered in ger districts, the ministry will be providing discounted electric heaters.

Right as winter begins, this process will be in full swing. I want to point out that the ministry has conducted extensive research and preparatio­n for the fund.

Will private businesses be able to submit their proposals for projects and receive financing?

Initially, we will be focusing more on projects that are designed to reduce air pollution. The fund will essentiall­y fund any project that will improve the environmen­t and reduce pollution.

Will only companies receive financing? Will it be possible for individual­s to receive financing for projects?

One of the unique things about the green loan fund is that both private businesses and individual­s will be able to receive financing for their green projects.

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